Kerry confirms Newmarket acce

RNS Number : 5695S

Kerry Group PLC

13 September 2010

 

NEWS RELEASE

13 September, 2010

Kerry Group confirms receipt of 82.49% Acceptances in respect of its offer for Newmarket Co-operative Creameries Limited.

On 12 August, Kerry Group, the global ingredients & flavours and consumer foods group, announced the terms of its offer to acquire the entire issued share capital of Newmarket Co-operative Creameries Limited for a price of €421 per share - valuing the entire share capital plus debt of Newmarket Creameries at approximately €33m. The Group today confirmed that it had received valid acceptances representing 82.49% of the issued share capital of Newmarket Co-operative Creameries Limited at the closing date of the Offer period (10 September 2010).

Completion of the transaction is subject to approval by the Competition Authority of Ireland.

Newmarket Creameries, located in North Cork, is a leading manufacturer of cheese from a state-of-the-art cheese production facility. With an annual manufacturing capacity in excess of 35,000 tonnes Newmarket is a major supplier of cheese to Kerry Group's branded cheese business.

ENDS

    For further information please contact:

    Frank Hayes, Director of Corporate Affairs, Kerry Group plc. 
    Tel no [phone]
    Fax no [phone]
    Kerry Web Site: www.kerrygroup.com

 

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